Home Insights & Advice Is business administration in high demand?

Is business administration in high demand?

by John Saunders
25th Jan 22 3:44 pm

Business administration is an excellent major since it ranks first among the most sought-after majors. A business administration major can also equip you for a variety of high-paying jobs with above-average development potential (U.S. Bureau of Labor Statistics).

It is critical to understand the professional consequences of a degree such as business administration before pursuing it. The following are some of the questions you could have throughout this discussion:

  • What can you expect to earn as a business administration major?
  • Is the business industry expected to expand or contract shortly?
  • Will a bachelor’s degree in business administration lead to a profession that I enjoy?
  • What are the possibilities for progress in your career?

When you type a business administration major into a job search engine, you may not get many results. That isn’t to say that there isn’t a demand for people with this degree. It’s the polar opposite! In reality, a business administration degree may prepare you for a wide range of employment in several sectors. As per the Bureau of Labor Statistics report, the average growth rate for the business and financial operations industry is 8%. A degree in business administration can help you prepare for a range of careers with above-average development potential. Health care management, company management, finance, accounting, and marketing are all areas where business administration majors may be found.

You can work in several professions with above-average development, as evidenced in these careers if you study business administration.

  • Management analysts predict a 14%
  • Real estate appraisers and assessors: a 4% increase
  • Fundraisers have seen a 16 % increase in revenue.
  • Personal Financial Advisors: a 5% increase
  • 22 % gain, according to a market research analyst

With growth estimates like these, you can be confident that job opportunities in the business field will expand, making a business administration degree a good decision.

Advantages of earning a Bachelor’s Degree in business

Here are some of the advantages of earning a bachelor’s degree in business:

1. The demand on the market

Those with a degree in business administration or a similar subject are in great demand. Many employers are looking for business management degrees in today’s market, and they are seen as a foundation to success.

A business degree will give you a significant edge when applying for any job compared to individuals who do not possess a degree or have acquired a less marketable degree. This is because a business degree gives a wide range of transferable abilities that you may use in any field. Hiring such people is a win-win scenario for good leaders, recruiters, and employers. So they’re always on the lookout for you, and you’re never out of the league!

2. Earning competitive potential

Many students who get a BB or a BBA start with incomes higher than the national average. According to the Bureau of Labor Statistics, the median annual salary for a business-related job starts at roughly $60,000, with opportunities for growth within a few years. Even in the next few years, the future of business degrees appears promising. According to the same source, employment in business and financial operations vocations is expected to expand 10% from 2016 to 2026, which will be faster than the national average.

The globe is undergoing economic growth, globalisation, and complicated taxation. Professionals are in great demand to do qualitative market research to better understand customers and product demand. So, if you believe your skill will allow you to control this industry, you may very much set your wage and demand huge numbers.

3. Work-life balance

Thanks to the technological revolution, many business-related occupations that used to be conducted in offices have been converted to remote or part-time choices. Nowadays, most people want their employees to satisfy their job demands while still respecting their schedules. It’s a mutual agreement, and where you do the work doesn’t matter as long as you get it done.

Fortunately, many flexible organisations provide their employees a lot of leeway and freedom to work around their schedules. Here are few examples of employment that you can do from home, part-time, or on your schedule:

  • Manager of Sales
  • Manager of Taxation
  • Actuary
  • Consultant in Management
  • Accountant
  • Manager of Business Development
  • Analyst for business processes

4. Job flexibility

It’s incredible how a business administration degree may open different doors for someone, even with a business management course online. It provides students with abilities that will be valuable in a range of job pathways. Finance, insurance, management, sales, publishing, education, manufacturing, consulting, and administration are all examples of interrelated fields. If you don’t want to go into traditional business administration, you can branch out into more creative fields like public relations or marketing.

You may use your expertise in market research, marketing strategy development, liaise with designers and copywriters, along with campaign evaluation. If you are wary of climbing the corporate ladder, a business administration degree will provide you with the entrepreneur skills you need to create and operate your profitable firm.

5. Ability to network

The networking possibilities available to university students are life-changing. As a student, you will have the opportunity to meet instructors, recruiters, and other students who share your interests. You may use your network of individuals to get your first employment, in addition to delving into sensible future themes, having fun, and forming connections.

Professors, for example, might assist you in finding prospective post-college work prospects or give you invaluable references. It can also be beneficial for you to meet recruiters at university-sponsored events at Potomac University. You may benefit from this fantastic opportunity to make relationships and secure interviews with well-known local businesses.

Degree jobs in demand

1. Medical and health services manager

A medical or health service manager, will be  working behind the scenes to ensure that a hospital, doctor’s office, or other care facility runs smoothly and safely. You are in charge of a variety of operational responsibilities in a healthcare centre, such as:

  • Recruiting and training hospital employees
  • Keeping track of digital medical records
  • Organising healthcare providers’ schedules
  • Interacting with representatives from health insurance companies

2. Information security analyst

Information security analysts are the ones that are responsible for ensuring the security of a company’s computer networks and systems. They protect a company’s reputation by acting as gatekeepers for information systems.

  • Detecting security flaws in a network
  • Developing and putting in place security protocols and system
  • Detecting and responding to data breaches and cyberattacks
  • Users are being taught how to use new systems.

3. Operations research analyst

As an operations research analyst, you use your critical thinking abilities to help firms run more efficiently and effectively. By using data mining, statistical analysis, and mathematical modelling, you can turn raw data into actionable insights. The following are some examples of common tasks:

  • Obtaining and analysing vast amounts of data
  • To tackle challenges, mathematical models are being developed.
  • Models are tested and validated to guarantee correctness.
  • Providing business solutions advice to leadership teams

4. Market research analyst

It is your responsibility as a market research analyst to research the market. You analyse your company’s position about rivals and assist in market research for goods and services. You’re always seeking new methods to engage and delight customers as the consumer marketplace evolves.

  • Sales patterns are being tracked and forecasted.
  • Consumers, competitors, and goods are all being researched.
  • Inventing novel ways to get useful customer data
  • Creating a simple, aesthetically appealing approach to present actionable insights

A bachelor’s degree in business administration can be highly beneficial for an individual to achieve new heights of success.

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